Operational management
Southwestern University (SWU) enrolls close to 20,000 students. During spring and fall, school has more students than permanent residents. Since hiring new head coach in football, attendance at the five Saturday home games each year increased along with season ticket sales increased. The major problem, which Southwestern University faces, is its capacity. One of the solutions could be a stadium expansion or even building a new stadium. SWU University initial focus had been on the development of forecasting model to improve capacity of the stadium and to max the revenues in years to come (2004 & 2005).Exponential smoothing would be the appropriate metho
None of these facts would support weighted moving average method, which is why we would not get proper results. 04 = 52110Based on our calculation, we are able to see the future revenues and attendees for each individual game. 7Game/year 1998 1999 2000 2001 2002 2003 Avg att on game based on week Avg att Seasonal index1 34200 36100 35900 41900 42500 46900 39583 39730 12 39800 40200 46500 46100 48200 50100 45150 39730 1,143 38200 39100 43100 43900 44200 45900 42400 39730 1,074 26900 25300 27900 30100 33900 36300 30067 39730 0,765 35100 36200 39200 40500 47800 49900 41450 39730 1,04 2E+05 If we expect 239000 people to attend next year, an exact amount of attendees for each game is following:1. year period (x) Attendees for one year (y) x2 xy1998 1 174200 1 1742001999 2 176900 4 3538002000 3 192600 9 5778002001 4 202500 16 8100002002 5 216600 25 10830002003 6 229100 36 1374600 Æx = 21 Æy = 1191900 Æx = 91 Æxy = 4373400 Æx Æyx = ªª y = ªª n n Æxy - nxyb = ªªªªª a= y ¨C bx Æx - nxAttendance in 2004 = a + b*7 (7 stands for the 7th yearly period)Attendance in 2005 = a + b*8 (8 stands for the 8TH yearly period) 21 1191900x = ªª = 3. d for forecasting attendance; therefore it might be the most suitable for such a projection. Weighted-moving average could be used as well, but only it works well only when market demand is fairly steady. In this case, seasonality comes in to the place.
Common topics in this essay:
Southwestern University,
SWU University,
Counting's Game/year,
University SWU,
239000/5 *,
250529/5 *,
southwestern university,
2004 2005,
= 1582999,
attendance 2004,
= ªª,
43900 44200 45900,
University Study,
* 114 =,
* 100 =,
53613 4,
4 26900,
yearly attendance,
4 26900 25300,
26900 25300 27900,
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